Harbour Trust & Investment Management Co Trims Stake in Eli Lilly and Company (NYSE:LLY)

Harbour Trust & Investment Management Co reduced its position in Eli Lilly and Company (NYSE:LLY) by 1.3% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 5,375 shares of the company’s stock after selling 71 shares during the period. Harbour Trust & Investment Management Co’s holdings in Eli Lilly and Company were worth $4,150,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in LLY. Geode Capital Management LLC raised its stake in Eli Lilly and Company by 0.5% during the 3rd quarter. Geode Capital Management LLC now owns 17,090,971 shares of the company’s stock valued at $15,089,563,000 after acquiring an additional 85,823 shares during the last quarter. International Assets Investment Management LLC raised its stake in Eli Lilly and Company by 87,091.7% during the 3rd quarter. International Assets Investment Management LLC now owns 12,463,182 shares of the company’s stock valued at $11,041,631,000 after acquiring an additional 12,448,888 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in Eli Lilly and Company by 2.6% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 6,115,504 shares of the company’s stock valued at $5,417,970,000 after acquiring an additional 157,741 shares during the last quarter. Fisher Asset Management LLC raised its stake in Eli Lilly and Company by 3.5% during the 3rd quarter. Fisher Asset Management LLC now owns 5,058,101 shares of the company’s stock valued at $4,481,175,000 after acquiring an additional 169,391 shares during the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. increased its position in Eli Lilly and Company by 0.6% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,954,047 shares of the company’s stock worth $1,731,168,000 after purchasing an additional 12,044 shares during the period. 82.53% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

LLY has been the topic of several recent analyst reports. Deutsche Bank Aktiengesellschaft dropped their target price on Eli Lilly and Company from $1,025.00 to $1,015.00 and set a “buy” rating on the stock in a research report on Monday, November 4th. Citigroup dropped their target price on Eli Lilly and Company from $1,250.00 to $1,190.00 and set a “buy” rating on the stock in a research report on Tuesday, January 28th. Barclays dropped their target price on Eli Lilly and Company from $1,025.00 to $975.00 and set an “overweight” rating on the stock in a research report on Thursday, October 31st. StockNews.com upgraded Eli Lilly and Company from a “hold” rating to a “buy” rating in a research report on Friday. Finally, Redburn Atlantic upgraded Eli Lilly and Company to a “hold” rating in a research report on Monday, November 4th. Four analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. Based on data from MarketBeat, Eli Lilly and Company presently has an average rating of “Moderate Buy” and an average price target of $997.50.

Eli Lilly and Company Price Performance

Shares of NYSE:LLY opened at $868.57 on Tuesday. The business’s fifty day moving average price is $789.87 and its two-hundred day moving average price is $843.19. The stock has a market cap of $824.55 billion, a PE ratio of 74.17, a price-to-earnings-growth ratio of 1.87 and a beta of 0.42. The company has a debt-to-equity ratio of 2.03, a quick ratio of 0.97 and a current ratio of 1.27. Eli Lilly and Company has a one year low of $711.40 and a one year high of $972.53.

Eli Lilly and Company (NYSE:LLY) last issued its quarterly earnings results on Thursday, February 6th. The company reported $5.32 earnings per share for the quarter, missing analysts’ consensus estimates of $5.45 by ($0.13). Eli Lilly and Company had a return on equity of 86.26% and a net margin of 23.51%. On average, analysts forecast that Eli Lilly and Company will post 23.33 EPS for the current fiscal year.

Eli Lilly and Company declared that its Board of Directors has authorized a share repurchase program on Monday, December 9th that allows the company to buyback $15.00 billion in outstanding shares. This buyback authorization allows the company to buy up to 2% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s leadership believes its stock is undervalued.

Eli Lilly and Company Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Friday, February 14th will be paid a dividend of $1.50 per share. This represents a $6.00 dividend on an annualized basis and a dividend yield of 0.69%. The ex-dividend date of this dividend is Friday, February 14th. This is a positive change from Eli Lilly and Company’s previous quarterly dividend of $1.30. Eli Lilly and Company’s dividend payout ratio is currently 44.41%.

Eli Lilly and Company Company Profile

Eli Lilly and Company discovers, develops, and markets human pharmaceuticals worldwide. The company offers Basaglar, Humalog, Humalog Mix 75/25, Humalog U-100, Humalog U-200, Humalog Mix 50/50, insulin lispro, insulin lispro protamine, insulin lispro mix 75/25, Humulin, Humulin 70/30, Humulin N, Humulin R, and Humulin U-500 for diabetes; Jardiance, Mounjaro, and Trulicity for type 2 diabetes; and Zepbound for obesity.